Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Irish-speaking region of Ireland (Gaeltacht) has been dealt bad news on the jobs front, following the announced closure of three call centres owned by Contact 4 in Donegal, Mayo and Kerry, with the loss of more than 100 jobs. The principal of the Glasgow-based company said it will be closing its three Gaeltacht-based customer call centres with immediate effect.
The total number of employees involved is 108 (79 full-time and 29 part-time). The regional spread of the job losses is Donegal 34 (26 full- and eight part-time), Mayo 36 (26 full- and 10 part-time) and Kerry 38 (27 full-time and 11 part-time).
The company has stated that the dramatic slump in the mortgage market and the consumer-lending business in the UK had left it with no option but to close all three centres. The company had hoped since the beginning of the year that there might be a recovery or a stabilisation in the UK financial services industry, but the situation had worsened and its business as an operator in the UK credit market had virtually disappeared.
Eurofound (2008), Contact 4, Closure in Ireland, factsheet number 66367, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66367.
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